Franklin Resources Inc. Trims Holdings in Par Pacific Holdings, Inc. (NYSE:PARR)

Franklin Resources Inc. decreased its holdings in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 42.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,960 shares of the company's stock after selling 42,995 shares during the period. Franklin Resources Inc. owned 0.10% of Par Pacific worth $1,022,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC increased its position in Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company's stock valued at $29,000 after acquiring an additional 796 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Par Pacific during the 2nd quarter valued at about $43,000. Quarry LP raised its position in Par Pacific by 610.5% in the 2nd quarter. Quarry LP now owns 2,359 shares of the company's stock worth $60,000 after purchasing an additional 2,027 shares during the period. nVerses Capital LLC lifted its stake in Par Pacific by 41.7% in the second quarter. nVerses Capital LLC now owns 3,400 shares of the company's stock worth $86,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Quest Partners LLC boosted its position in shares of Par Pacific by 141.3% during the second quarter. Quest Partners LLC now owns 5,930 shares of the company's stock valued at $150,000 after buying an additional 3,472 shares during the period. 92.15% of the stock is owned by institutional investors.

Par Pacific Stock Down 0.9 %

NYSE PARR traded down $0.15 during trading on Friday, reaching $16.19. 581,459 shares of the company's stock traded hands, compared to its average volume of 917,575. The company's 50 day simple moving average is $16.57 and its two-hundred day simple moving average is $20.10. Par Pacific Holdings, Inc. has a 12-month low of $14.84 and a 12-month high of $40.69. The firm has a market cap of $905.86 million, a price-to-earnings ratio of 3.14 and a beta of 1.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. Par Pacific's revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.15 earnings per share. As a group, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the transaction, the director now owns 524,610 shares of the company's stock, valued at $8,509,174.20. The trade was a 11.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PARR shares. Piper Sandler downgraded Par Pacific from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $37.00 to $23.00 in a report on Friday, September 20th. Tudor, Pickering, Holt & Co. lowered Par Pacific from a "buy" rating to a "hold" rating in a research note on Monday, September 9th. Tudor Pickering raised shares of Par Pacific to a "hold" rating in a research note on Monday, September 9th. The Goldman Sachs Group reduced their price target on shares of Par Pacific from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded shares of Par Pacific from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $26.50.

About Par Pacific

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.